A Well Reputed Group of Companies
A Well Reputed Group of Companies
A Well Reputed Group of Companies
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Summary
- Vacancy: 01
- Location: Dhaka
- Salary: Negotiable
- Published: 12 Jun 2024
Responsibilities & Context
- Managing the internal audit function; facilitating the Audit Committee meetings through the Managing Director and provides the committee with a secretariat; evaluating the effectiveness of internal controls in the organization; preparing the audit programs in line with the Audit Charter and the Audit Committee agreed areas of focus, facilitating the development of a strong internal audit team through training; facilitating the conduct of audit by the external auditors; carrying out systems control audit through computerized systems; ensuring compliance of financial statements with IFRS and ISA policies and procedures and guidelines and professional ethics; managing staff performance appraisal within the nit; and recommending effective cost reduction strategies for adoption by the Company.
- Identification of Risk.
- The primary focus for a audit manager needs to be the identification and elimination of any risks that may result in property loss, injury, or legal liability. The risk manager needs to take constant steps to analyze and fix any areas where the company is open to litigation.
- They must use any and all techniques to lessen loss such as avoidance, transfer of employees who pose a risk, retention of policies, and grouping units together that have a higher chance of causing risk to minimize risk to other areas.
- Management Communication.
- The Audit manager must be able to communicate to senior management what risk issues are and be able to provide them with a plan to minimize risk.
- The risk manager must be able to produce status reports regarding the level of risk associated with any given area of the business.
- Sometimes, the risk manager will have to testify on behalf of the company.
- Audit Planning/Design.
- Develop an annual audit plan using input from the team and stakeholders to identify priorities and resource requirements for the year.
- Annual audit plan to cover all activities of Group.
- Meet with Managers to discuss needs and propose audits, to build stakeholder requirements into department plans.
- Ensure plan is developed to meet the Audit Committee’s expectations. Schedule and assign audits to team members, ensuring effective and efficient use of resources.
- Ensure quality control of the team’s audit plans on an ongoing basis by reviewing and approving plans as they are developed and communicated to clients.
- Ensure annual audit plans have contingency built in, to provide unexpected audits to clients as they may surface.
- Report to the Head of accounts at the required intervals on Internal Audit assignments including planned reviews, investigations, risk advisory work and any other ad-hoc activity as required.
- Conducting Audits.
- Oversee and provide quality control for the department’s audits, to ensure departmental mandate and business goals are met and that professional standards are maintained at all times.
- Ensure completion of audit assignments to provide independent, objective assurance to the Audit Committee.
- Develop the team’s engagement with and support of major business change thus ensuring that appropriate consideration of risk and control is given to all change.
- Reporting.
- Ensure final reports are issued with all recommendations agreed and accepted by the audited individual/group.
- Improving the Practice of Audits/Championing Risk Management.
- Build relationships with leaders across the organization to understand issues and identify areas for improvement for the organization as a whole.
- Support and encourage team members to be proactive in identifying opportunities to share best practice with Directors and Managers to improve the control environment.
- Develop new methodologies to improve the audit process, making it ‘easier’ for the organization to request audits and implement recommendations.
- Provide assistance to the business in meeting regulatory requirements.
- Keep abreast of developments in Corporate Governance practices and advise the business accordingly.
Employment Status
Full Time
Job Location
Dhaka